[FWP] iPath Series B S&P 500 VIX Mid-Term Futures ETN Free Writing Prospectus
Barclays Bank PLC is marketing Partial Principal at Risk Securities linked to the S&P 500® Index. The $1,000-denominated notes will be priced on 30 June 2025 and mature on 5 January 2027. They offer a 100% participation rate in any positive index return, but total upside is capped at a maximum payment of at least $1,127 (≥ 112.7% of principal). If the index ends below its initial level, holders receive principal reduced by the index’s percentage decline, subject to a minimum payment of $850; the worst-case loss is therefore 15% of invested capital.
The notes pay no periodic interest, are senior unsecured obligations of Barclays, and are exposed to both the bank’s credit risk and potential U.K. bail-in. Barclays’ own pricing models value the securities at $919.90–$969.90, noticeably below the $1,000 issue price, reflecting dealer compensation, hedging costs and structuring margin.
No exchange listing is planned, so liquidity will depend on Barclays making markets, and resale prices may be well below both issue price and model value. Additional risks disclosed include limited upside, potential negative impact of Barclays’ hedging, model uncertainty, and possible early acceleration upon regulatory change-in-law events.
These notes may suit investors seeking moderate, capped equity exposure with partial downside protection over an 18-month horizon, but investors give up dividends, accept limited upside and bear issuer and market liquidity risk.
Barclays Bank PLC offre titoli a rischio parziale sul capitale collegati all'indice S&P 500®. I titoli, denominati in taglio da 1.000$, saranno quotati il 30 giugno 2025 e scadranno il 5 gennaio 2027. Offrono un tasso di partecipazione del 100% su qualsiasi rendimento positivo dell'indice, ma il guadagno massimo è limitato a un pagamento massimo di almeno 1.127$ (≥ 112,7% del capitale). Se l'indice chiude al di sotto del livello iniziale, i detentori riceveranno il capitale ridotto in base alla percentuale di calo dell'indice, con un pagamento minimo di 850$; la perdita massima è quindi del 15% del capitale investito.
I titoli non pagano interessi periodici, sono obbligazioni senior non garantite di Barclays e sono esposti sia al rischio di credito della banca sia al potenziale bail-in nel Regno Unito. I modelli di valutazione di Barclays stimano il valore dei titoli tra 919,90$ e 969,90$, significativamente inferiore al prezzo di emissione di 1.000$, riflettendo compensi per i dealer, costi di copertura e margine di strutturazione.
Non è prevista la quotazione in borsa, quindi la liquidità dipenderà dalla disponibilità di Barclays a fare mercato, e i prezzi di rivendita potrebbero essere molto inferiori sia al prezzo di emissione che al valore stimato. I rischi aggiuntivi includono un potenziale guadagno limitato, l'impatto negativo delle coperture di Barclays, l'incertezza dei modelli e la possibile accelerazione anticipata in caso di cambiamenti normativi.
Questi titoli possono essere adatti a investitori che cercano un esposizione azionaria moderata e limitata con protezione parziale al ribasso su un orizzonte di 18 mesi, ma che rinunciano ai dividendi, accettano un guadagno limitato e si assumono il rischio di credito dell'emittente e di liquidità di mercato.
Barclays Bank PLC está comercializando Valores con Riesgo Parcial del Principal vinculados al índice S&P 500®. Los bonos, denominados en $1,000, se valorarán el 30 de junio de 2025 y vencerán el 5 de enero de 2027. Ofrecen una tasa de participación del 100% en cualquier retorno positivo del índice, pero la ganancia total está limitada a un pago máximo de al menos $1,127 (≥ 112.7% del principal). Si el índice termina por debajo de su nivel inicial, los tenedores recibirán el principal reducido según el porcentaje de caída del índice, con un pago mínimo de $850; la pérdida máxima es por lo tanto del 15% del capital invertido.
Los bonos no pagan intereses periódicos, son obligaciones senior no garantizadas de Barclays y están expuestos tanto al riesgo crediticio del banco como a una posible intervención regulatoria en el Reino Unido. Los modelos de valoración de Barclays estiman el valor de los valores entre $919.90 y $969.90, notablemente por debajo del precio de emisión de $1,000, reflejando compensación para los distribuidores, costos de cobertura y margen de estructuración.
No está prevista su cotización en bolsa, por lo que la liquidez dependerá de la disposición de Barclays a proveer mercado, y los precios de reventa podrían estar muy por debajo tanto del precio de emisión como del valor estimado. Los riesgos adicionales incluyen ganancias limitadas, posible impacto negativo de las coberturas de Barclays, incertidumbre en los modelos y posible aceleración anticipada ante cambios regulatorios.
Estos bonos pueden ser adecuados para inversores que buscan una exposición moderada y limitada al mercado accionario con protección parcial a la baja en un horizonte de 18 meses, pero que renuncian a dividendos, aceptan ganancias limitadas y asumen riesgos de crédito del emisor y de liquidez de mercado.
바클레이즈 은행 PLC는 S&P 500® 지수에 연계된 부분 원금 위험 증권을 판매하고 있습니다. 액면가 1,000달러인 이 노트는 2025년 6월 30일에 가격이 책정되며 2027년 1월 5일에 만기됩니다. 긍정적인 지수 수익에 대해 100% 참여율을 제공하지만, 총 상승 수익은 최소 1,127달러의 최대 지급액 (원금의 112.7% 이상)으로 제한됩니다. 지수가 초기 수준보다 낮게 마감하면 보유자는 지수 하락률만큼 원금이 감소된 금액을 받으며, 최소 지급액은 850달러입니다; 따라서 최악의 손실은 투자 원금의 15%입니다.
이 노트는 정기 이자 지급이 없으며, 바클레이즈의 선순위 무담보 채무이고 은행의 신용 위험과 영국 내 구제금융 가능성에 노출되어 있습니다. 바클레이즈의 자체 평가 모델은 이 증권의 가치를 919.90달러에서 969.90달러 사이로 평가하며, 이는 1,000달러 발행가보다 현저히 낮은 수준으로, 딜러 보상, 헤지 비용 및 구조화 마진이 반영된 결과입니다.
거래소 상장은 예정되어 있지 않아 유동성은 바클레이즈의 시장 조성 여부에 따라 달라지며, 재판매 가격은 발행가 및 모델 가치보다 훨씬 낮을 수 있습니다. 추가 위험으로는 제한된 상승 잠재력, 바클레이즈 헤지의 부정적 영향, 모델 불확실성, 규제 법률 변경 시 조기 가속 가능성이 포함됩니다.
이 노트는 18개월 기간 동안 부분 하방 보호가 있는 중간 수준의 제한된 주식 노출을 원하는 투자자에게 적합할 수 있으나, 배당금 포기, 제한된 상승 수익 수용, 발행자 신용 위험 및 시장 유동성 위험을 감수해야 합니다.
Barclays Bank PLC commercialise des titres à risque partiel sur le principal liés à l'indice S&P 500®. Ces notes, libellées en 1 000 $, seront cotées le 30 juin 2025 et arriveront à échéance le 5 janvier 2027. Elles offrent un taux de participation de 100 % sur tout rendement positif de l'indice, mais le gain total est plafonné à un paiement maximum d'au moins 1 127 $ (≥ 112,7 % du principal). Si l'indice termine en dessous de son niveau initial, les détenteurs reçoivent un principal réduit en fonction du pourcentage de baisse de l'indice, avec un paiement minimum de 850 $ ; la perte maximale est donc de 15 % du capital investi.
Les notes ne versent pas d'intérêts périodiques, sont des obligations senior non garanties de Barclays et sont exposées au risque de crédit de la banque ainsi qu'à un éventuel renflouement interne au Royaume-Uni. Les modèles de valorisation propres à Barclays estiment la valeur des titres entre 919,90 $ et 969,90 $, nettement inférieure au prix d'émission de 1 000 $, reflétant la rémunération des intermédiaires, les coûts de couverture et la marge de structuration.
Aucune cotation en bourse n'est prévue, la liquidité dépendra donc de la volonté de Barclays d'assurer un marché, et les prix de revente pourraient être bien inférieurs au prix d'émission et à la valeur modélisée. Les risques supplémentaires incluent un potentiel de gain limité, un impact négatif possible des couvertures de Barclays, une incertitude des modèles et une possible accélération anticipée en cas de changement réglementaire.
Ces notes peuvent convenir aux investisseurs recherchant une exposition modérée et plafonnée aux actions avec une protection partielle à la baisse sur un horizon de 18 mois, tout en renonçant aux dividendes, acceptant un gain limité et assumant les risques de crédit de l'émetteur et de liquidité du marché.
Barclays Bank PLC vermarktet Teilweise Kapital-gefährdete Wertpapiere, die an den S&P 500® Index gekoppelt sind. Die auf 1.000$ lautenden Notes werden am 30. Juni 2025 bepreist und laufen bis zum 5. Januar 2027. Sie bieten eine 100%ige Partizipationsrate an positiven Indexrenditen, jedoch ist der maximale Gewinn auf eine Höchstzahlung von mindestens 1.127$ (≥ 112,7% des Kapitals) begrenzt. Fällt der Index unter den Anfangswert, erhalten die Inhaber das Kapital abzüglich des prozentualen Indexverlusts, jedoch mindestens 850$; der maximale Verlust beträgt somit 15% des eingesetzten Kapitals.
Die Notes zahlen keine periodischen Zinsen, sind unbesicherte vorrangige Verbindlichkeiten von Barclays und unterliegen sowohl dem Kreditrisiko der Bank als auch einem möglichen Bail-in im Vereinigten Königreich. Die Bewertungsmodelle von Barclays schätzen den Wert der Wertpapiere auf 919,90$ bis 969,90$, deutlich unter dem Ausgabepreis von 1.000$, was Händlervergütungen, Absicherungskosten und Strukturierungsaufschläge berücksichtigt.
Eine Börsennotierung ist nicht geplant, daher hängt die Liquidität davon ab, ob Barclays Markt macht, und Wiederverkaufspreise können deutlich unter Ausgabepreis und Modellwert liegen. Weitere Risiken umfassen begrenzte Aufwärtschancen, mögliche negative Auswirkungen der Absicherungen von Barclays, Modellunsicherheiten sowie eine mögliche vorzeitige Beschleunigung bei regulatorischen Gesetzesänderungen.
Diese Notes können für Anleger geeignet sein, die eine moderate, begrenzte Aktienexponierung mit teilweisem Abwärtsschutz über einen Zeitraum von 18 Monaten suchen, dabei jedoch auf Dividenden verzichten, begrenzte Gewinnchancen akzeptieren und Emittenten- sowie Marktlquiditätsrisiken tragen.
- 85% principal floor limits maximum loss to 15%.
- 100% participation in S&P 500 upside up to the cap provides equity growth potential.
- Short 18-month tenor reduces long-term exposure to market and credit events.
- No interest or dividends paid, reducing total return versus direct equity ownership.
- Upside capped at a minimum of 12.7%, limiting participation in strong markets.
- Estimated fair value ($919.90–$969.90) is below the $1,000 issue price, implying negative carry at issuance.
- Senior unsecured exposure to Barclays and potential U.K. bail-in could lead to greater losses than modeled.
- Unlisted security; secondary market liquidity and pricing are uncertain.
Insights
TL;DR – Captures 0-12.7% upside with 15% floor; credit and liquidity risks offset limited protection.
The structure provides 15% principal protection and full participation up to a modest cap. Investors sacrifice dividends and any equity gains above roughly 12.7%, while accepting Barclays credit exposure. The bank’s internal value (≈ 92–97% of par) indicates a meaningful embedded fee, so secondary prices are likely to open at a discount. For investors comfortable with Barclays risk and needing a defined 15% buffer, the notes are a neutral proposition; risk/return is balanced but not compelling.
TL;DR – Limited upside, below-par model value and bail-in risk make risk-adjusted return unattractive.
While the 85% floor caps losses, the 12.7% minimum cap severely limits upside versus direct S&P 500 exposure. The lack of interest and no dividend replacement raise carry costs. Credit risk is material: any bail-in could wipe out more than 15%. Absence of listing reduces exit flexibility. Given these factors, the structure skews negative for most portfolios seeking efficient equity risk.
Barclays Bank PLC offre titoli a rischio parziale sul capitale collegati all'indice S&P 500®. I titoli, denominati in taglio da 1.000$, saranno quotati il 30 giugno 2025 e scadranno il 5 gennaio 2027. Offrono un tasso di partecipazione del 100% su qualsiasi rendimento positivo dell'indice, ma il guadagno massimo è limitato a un pagamento massimo di almeno 1.127$ (≥ 112,7% del capitale). Se l'indice chiude al di sotto del livello iniziale, i detentori riceveranno il capitale ridotto in base alla percentuale di calo dell'indice, con un pagamento minimo di 850$; la perdita massima è quindi del 15% del capitale investito.
I titoli non pagano interessi periodici, sono obbligazioni senior non garantite di Barclays e sono esposti sia al rischio di credito della banca sia al potenziale bail-in nel Regno Unito. I modelli di valutazione di Barclays stimano il valore dei titoli tra 919,90$ e 969,90$, significativamente inferiore al prezzo di emissione di 1.000$, riflettendo compensi per i dealer, costi di copertura e margine di strutturazione.
Non è prevista la quotazione in borsa, quindi la liquidità dipenderà dalla disponibilità di Barclays a fare mercato, e i prezzi di rivendita potrebbero essere molto inferiori sia al prezzo di emissione che al valore stimato. I rischi aggiuntivi includono un potenziale guadagno limitato, l'impatto negativo delle coperture di Barclays, l'incertezza dei modelli e la possibile accelerazione anticipata in caso di cambiamenti normativi.
Questi titoli possono essere adatti a investitori che cercano un esposizione azionaria moderata e limitata con protezione parziale al ribasso su un orizzonte di 18 mesi, ma che rinunciano ai dividendi, accettano un guadagno limitato e si assumono il rischio di credito dell'emittente e di liquidità di mercato.
Barclays Bank PLC está comercializando Valores con Riesgo Parcial del Principal vinculados al índice S&P 500®. Los bonos, denominados en $1,000, se valorarán el 30 de junio de 2025 y vencerán el 5 de enero de 2027. Ofrecen una tasa de participación del 100% en cualquier retorno positivo del índice, pero la ganancia total está limitada a un pago máximo de al menos $1,127 (≥ 112.7% del principal). Si el índice termina por debajo de su nivel inicial, los tenedores recibirán el principal reducido según el porcentaje de caída del índice, con un pago mínimo de $850; la pérdida máxima es por lo tanto del 15% del capital invertido.
Los bonos no pagan intereses periódicos, son obligaciones senior no garantizadas de Barclays y están expuestos tanto al riesgo crediticio del banco como a una posible intervención regulatoria en el Reino Unido. Los modelos de valoración de Barclays estiman el valor de los valores entre $919.90 y $969.90, notablemente por debajo del precio de emisión de $1,000, reflejando compensación para los distribuidores, costos de cobertura y margen de estructuración.
No está prevista su cotización en bolsa, por lo que la liquidez dependerá de la disposición de Barclays a proveer mercado, y los precios de reventa podrían estar muy por debajo tanto del precio de emisión como del valor estimado. Los riesgos adicionales incluyen ganancias limitadas, posible impacto negativo de las coberturas de Barclays, incertidumbre en los modelos y posible aceleración anticipada ante cambios regulatorios.
Estos bonos pueden ser adecuados para inversores que buscan una exposición moderada y limitada al mercado accionario con protección parcial a la baja en un horizonte de 18 meses, pero que renuncian a dividendos, aceptan ganancias limitadas y asumen riesgos de crédito del emisor y de liquidez de mercado.
바클레이즈 은행 PLC는 S&P 500® 지수에 연계된 부분 원금 위험 증권을 판매하고 있습니다. 액면가 1,000달러인 이 노트는 2025년 6월 30일에 가격이 책정되며 2027년 1월 5일에 만기됩니다. 긍정적인 지수 수익에 대해 100% 참여율을 제공하지만, 총 상승 수익은 최소 1,127달러의 최대 지급액 (원금의 112.7% 이상)으로 제한됩니다. 지수가 초기 수준보다 낮게 마감하면 보유자는 지수 하락률만큼 원금이 감소된 금액을 받으며, 최소 지급액은 850달러입니다; 따라서 최악의 손실은 투자 원금의 15%입니다.
이 노트는 정기 이자 지급이 없으며, 바클레이즈의 선순위 무담보 채무이고 은행의 신용 위험과 영국 내 구제금융 가능성에 노출되어 있습니다. 바클레이즈의 자체 평가 모델은 이 증권의 가치를 919.90달러에서 969.90달러 사이로 평가하며, 이는 1,000달러 발행가보다 현저히 낮은 수준으로, 딜러 보상, 헤지 비용 및 구조화 마진이 반영된 결과입니다.
거래소 상장은 예정되어 있지 않아 유동성은 바클레이즈의 시장 조성 여부에 따라 달라지며, 재판매 가격은 발행가 및 모델 가치보다 훨씬 낮을 수 있습니다. 추가 위험으로는 제한된 상승 잠재력, 바클레이즈 헤지의 부정적 영향, 모델 불확실성, 규제 법률 변경 시 조기 가속 가능성이 포함됩니다.
이 노트는 18개월 기간 동안 부분 하방 보호가 있는 중간 수준의 제한된 주식 노출을 원하는 투자자에게 적합할 수 있으나, 배당금 포기, 제한된 상승 수익 수용, 발행자 신용 위험 및 시장 유동성 위험을 감수해야 합니다.
Barclays Bank PLC commercialise des titres à risque partiel sur le principal liés à l'indice S&P 500®. Ces notes, libellées en 1 000 $, seront cotées le 30 juin 2025 et arriveront à échéance le 5 janvier 2027. Elles offrent un taux de participation de 100 % sur tout rendement positif de l'indice, mais le gain total est plafonné à un paiement maximum d'au moins 1 127 $ (≥ 112,7 % du principal). Si l'indice termine en dessous de son niveau initial, les détenteurs reçoivent un principal réduit en fonction du pourcentage de baisse de l'indice, avec un paiement minimum de 850 $ ; la perte maximale est donc de 15 % du capital investi.
Les notes ne versent pas d'intérêts périodiques, sont des obligations senior non garanties de Barclays et sont exposées au risque de crédit de la banque ainsi qu'à un éventuel renflouement interne au Royaume-Uni. Les modèles de valorisation propres à Barclays estiment la valeur des titres entre 919,90 $ et 969,90 $, nettement inférieure au prix d'émission de 1 000 $, reflétant la rémunération des intermédiaires, les coûts de couverture et la marge de structuration.
Aucune cotation en bourse n'est prévue, la liquidité dépendra donc de la volonté de Barclays d'assurer un marché, et les prix de revente pourraient être bien inférieurs au prix d'émission et à la valeur modélisée. Les risques supplémentaires incluent un potentiel de gain limité, un impact négatif possible des couvertures de Barclays, une incertitude des modèles et une possible accélération anticipée en cas de changement réglementaire.
Ces notes peuvent convenir aux investisseurs recherchant une exposition modérée et plafonnée aux actions avec une protection partielle à la baisse sur un horizon de 18 mois, tout en renonçant aux dividendes, acceptant un gain limité et assumant les risques de crédit de l'émetteur et de liquidité du marché.
Barclays Bank PLC vermarktet Teilweise Kapital-gefährdete Wertpapiere, die an den S&P 500® Index gekoppelt sind. Die auf 1.000$ lautenden Notes werden am 30. Juni 2025 bepreist und laufen bis zum 5. Januar 2027. Sie bieten eine 100%ige Partizipationsrate an positiven Indexrenditen, jedoch ist der maximale Gewinn auf eine Höchstzahlung von mindestens 1.127$ (≥ 112,7% des Kapitals) begrenzt. Fällt der Index unter den Anfangswert, erhalten die Inhaber das Kapital abzüglich des prozentualen Indexverlusts, jedoch mindestens 850$; der maximale Verlust beträgt somit 15% des eingesetzten Kapitals.
Die Notes zahlen keine periodischen Zinsen, sind unbesicherte vorrangige Verbindlichkeiten von Barclays und unterliegen sowohl dem Kreditrisiko der Bank als auch einem möglichen Bail-in im Vereinigten Königreich. Die Bewertungsmodelle von Barclays schätzen den Wert der Wertpapiere auf 919,90$ bis 969,90$, deutlich unter dem Ausgabepreis von 1.000$, was Händlervergütungen, Absicherungskosten und Strukturierungsaufschläge berücksichtigt.
Eine Börsennotierung ist nicht geplant, daher hängt die Liquidität davon ab, ob Barclays Markt macht, und Wiederverkaufspreise können deutlich unter Ausgabepreis und Modellwert liegen. Weitere Risiken umfassen begrenzte Aufwärtschancen, mögliche negative Auswirkungen der Absicherungen von Barclays, Modellunsicherheiten sowie eine mögliche vorzeitige Beschleunigung bei regulatorischen Gesetzesänderungen.
Diese Notes können für Anleger geeignet sein, die eine moderate, begrenzte Aktienexponierung mit teilweisem Abwärtsschutz über einen Zeitraum von 18 Monaten suchen, dabei jedoch auf Dividenden verzichten, begrenzte Gewinnchancen akzeptieren und Emittenten- sowie Marktlquiditätsrisiken tragen.
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Barclays Bank PLC Market Linked Securities |
Filed Pursuant to Rule 433 Registration Statement No. 333-287303
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Market Linked Securities—Leveraged Upside Participation and Fixed Percentage Buffered Downside Principal at Risk Securities Linked to the EURO STOXX 50® Index due August 3, 2028 Term Sheet dated June 30, 2025 to Preliminary Pricing Supplement dated June 30, 2025 (the “PPS”) |
Summary of Terms
| Issuer | Barclays Bank PLC |
| Market Measure | EURO STOXX 50® Index (Bloomberg ticker symbol “SX5E<Index>”) (the “Index”) |
| Pricing Date | July 30, 2025 |
| Issue Date | August 4, 2025 |
| Calculation Day | July 31, 2028 |
| Stated Maturity Date | August 3, 2028 |
| Principal Amount | $1,000 per security |
| Maturity Payment Amount (per security) | The maturity payment amount will equal: · If the ending level is greater than the starting level: $1,000 + ($1,000 × index return × upside participation rate) · If the ending level is less than or equal to the starting level, but greater than or equal to the threshold level: $1,000 · If the ending level is less than the threshold level: $1,000 + [$1,000 × (index return + buffer amount)] |
| Starting Level | The closing level of the Index on the pricing date |
| Ending Level | The closing level of the Index on the calculation day |
| Threshold Level | 75% of the starting level |
| Buffer Amount | 25% |
| Upside Participation Rate | At least 116%, to be determined on the pricing date |
| Index Return | (ending level – starting level) / starting level |
| Calculation Agent | Barclays Bank PLC |
| Denominations | $1,000 and any integral multiple of $1,000 |
| CUSIP/ISIN | 06746CDX4 / US06746CDX48 |
| Agent Discount | Up to 3.075%; dealers, including those using the trade name Wells Fargo Advisors (WFA), may receive a selling concession of 2.25% and WFA may receive a distribution expense fee of 0.075%. Selected dealers may receive a fee of up to 0.20% for marketing and other services. |
Hypothetical Payout Profile*
* assumes an upside participation rate equal to the lowest possible upside participation rate that may be determined on the pricing date
If the ending level is less than the threshold level, you will have 1-to-1 downside exposure to the decrease in the level of the Index from the starting level in excess of 25% and will lose up to 75% of the principal amount of your securities at maturity.
Any payment on the securities, including any repayment of principal, is subject to the creditworthiness of Barclays Bank PLC and is not guaranteed by any third party.
Notwithstanding and to the exclusion of any other term of the securities or any other agreements, arrangements or understandings between Barclays Bank PLC and any holder or beneficial owner of the securities (or the trustee on behalf of the holders of the securities), by acquiring the securities, each holder or beneficial owner of the securities acknowledges, accepts, agrees to be bound by, and consents to the exercise of, any U.K. Bail-in Power by the relevant U.K. resolution authority. See “Consent to U.K. Bail-in Power” in the PPS.
The issuer’s estimated value of the securities on the pricing date, based on its internal pricing models, is expected to be between $900.00 and $952.80 per security. The estimated value is expected to be less than the original offering price of the securities. See “Additional Information Regarding Our Estimated Value of the Securities” in the PPS.
Investors should carefully review the accompanying PPS, product supplement, underlying supplement, prospectus supplement and prospectus before making a decision to invest in the securities.
PPS: http://www.sec.gov/Archives/edgar/data/312070/000095010325008118/dp230819_424b2-7483wf.htm
| The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” in this term sheet and the accompanying PPS and “Risk Factors” in the accompanying product supplement and prospectus supplement. |
| This term sheet does not provide all of the information that an investor should consider prior to making an investment decision. |
| The securities constitute our unsecured and unsubordinated obligations. The securities are not deposit liabilities of Barclays Bank PLC and are not covered by the U.K. Financial Services Compensation Scheme or insured by the U.S. Federal Deposit Insurance Corporation or any other governmental agency or deposit insurance agency of the United States, the United Kingdom or any other jurisdiction. |
Selected Risk Considerations
An investment in the securities involves significant risks. Investing in the securities is not equivalent to investing directly in any of the securities composing the Index. You should carefully review the risk disclosures set forth under the “Risk Factors” sections of the prospectus supplement and product supplement and the “Selected Risk Considerations” section in the accompanying PPS. The risks set forth below are discussed in detail in the “Selected Risk Considerations” section in the accompanying PPS.
| · | If The Ending Level Is Less Than The Threshold Level, You Will Lose Up To 75% Of The Principal Amount Of Your Securities At Maturity. |
| · | No Periodic Interest Will Be Paid On The Securities. |
| · | Any Payment On The Securities Will Be Determined Based On The Closing Levels Of The Index On The Dates Specified. |
| · | Owning The Securities Is Not The Same As Owning The Securities Composing The Index. |
| · | No Assurance That The Investment View Implicit In The Securities Will Be Successful. |
| · | The U.S. Federal Income Tax Consequences Of An Investment In The Securities Are Uncertain. |
| · | The Securities Are Subject To The Credit Risk Of Barclays Bank PLC. |
| · | You May Lose Some Or All Of Your Investment If Any U.K. Bail-In Power Is Exercised By The Relevant U.K. Resolution Authority. |
| · | There Are Risks Associated With Investments In Securities Linked To The Value Of Non-U.S. Equity Securities. |
| · | The Securities Do Not Provide Direct Exposure To Fluctuations In Exchange Rates Between The U.S. Dollar And The Euro. |
| · | The Index Reflects The Price Return Of The Securities Composing The Index, Not The Total Return. |
| · | We Cannot Control Actions Of Any Of The Unaffiliated Companies Whose Securities Are Included As Components Of The Index. |
| · | We And Our Affiliates Have No Affiliation With The Index Sponsor And Have Not Independently Verified Its Public Disclosure Of Information. |
| · | Adjustments To The Index Could Adversely Affect The Value Of The Securities And The Amount You Will Receive At Maturity. |
| · | The Historical Performance Of The Index Is Not An Indication Of Its Future Performance. |
| · | Potentially Inconsistent Research, Opinions Or Recommendations By Barclays Capital Inc., Wells Fargo Securities, LLC Or Their Respective Affiliates. |
| · | We, Our Affiliates And Any Other Agent And/Or Participating Dealer May Engage In Various Activities Or Make Determinations That Could Materially Affect Your Securities In Various Ways And Create Conflicts Of Interest. |
| · | The Securities Will Not Be Listed On Any Securities Exchange And We Do Not Expect A Trading Market For The Securities To Develop. |
| · | The Value Of The Securities Prior To Maturity Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways. |
| · | The Estimated Value Of Your Securities Is Expected To Be Lower Than The Original Offering Price Of Your Securities. |
| · | The Estimated Value Of Your Securities Might Be Lower If Such Estimated Value Were Based On The Levels At Which Our Debt Securities Trade In The Secondary Market. |
| · | The Estimated Value Of The Securities Is Based On Our Internal Pricing Models, Which May Prove To Be Inaccurate And May Be Different From The Pricing Models Of Other Financial Institutions. |
| · | The Estimated Value Of Your Securities Is Not A Prediction Of The Prices At Which You May Sell Your Securities In The Secondary Market, If Any, And Such Secondary Market Prices, If Any, Will Likely Be Lower Than The Original Offering Price Of Your Securities And May Be Lower Than The Estimated Value Of Your Securities. |
| · | The Temporary Price At Which We May Initially Buy The Securities In The Secondary Market And The Value We May Initially Use For Customer Account Statements, If We Provide Any Customer Account Statements At All, May Not Be Indicative Of Future Prices Of Your Securities. |
| Barclays Bank PLC has filed a registration statement (including a prospectus) with the SEC for the offering to which this term sheet relates. Before you invest, you should read the prospectus dated May 15, 2025, the prospectus supplement dated May 15, 2025, the product supplement no. WF-1 dated May 20, 2025, the underlying supplement dated May 15, 2025, the PPS and other documents Barclays Bank PLC has filed with the SEC for more complete information about Barclays Bank PLC and this offering. You may get these documents and other documents Barclays Bank PLC has filed for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Barclays Bank PLC or any agent or dealer participating in this offering will arrange to send you each of these documents if you request them by calling your Barclays Bank PLC sales representative, such dealer or toll-free 1-888-227-2275 (Extension 2-3430). A copy of each of these documents may be obtained from Barclays Capital Inc., 745 Seventh Avenue—Attn: US InvSol Support, New York, NY 10019. |
As used in this term sheet, “we,” “us” and “our” refer to Barclays Bank PLC. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.
FAQ
What is the maturity date of Barclays' Partial Principal at Risk Securities (symbol VXZ)?
How much principal protection do these Barclays notes provide?
What is the maximum potential return on the Barclays S&P 500 notes?
Do the Barclays Partial Principal at Risk Securities pay interest or dividends?
Where will these notes trade after issuance?
Why is the estimated value below the $1,000 issue price?
